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Need for Cash Flow Statement

Write the wor...

Question

Write the word / term / phrase, which can substitute each of the following statements.

Credit balance in Realisation Account.

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Solution

Realisation Profit

Explanation: Credit balance in Realisation Account is regarded as ‘Profit on Realisation’. It arises when the credit side of Realisation A/c is more than the debit side. This profit is distributed among all the partners in their profit-sharing ratio.

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